Goodman Fields, Berkeley Homes, East London (Zone 2)

Goodman Fields by Berkely Homes.

This development, very near Aldgate East Tube Station, has been on the market for a while now.   What is interesting is the location, the price that it is being sold for, and also what it means for upcoming launches in this area of East London.

This is a snapshot of the Goodman Fields marketing website on the Berkeley Homes webpage. Just take a look at the prices.

This is the location of the development.  The plot is a fairly large development by London's standards.

 Another snapshot of the website.  Nice prices yah.

Location on Google Maps
Let's take a look at the location on Google maps.  You can see Aldate East Tube station.  Notice that piece of land that looks like it has been levelled, just south of Commercial Road.  The development site is bounded on the east by Grower's Walk and on the west by Leman Street (known for high property prices).

Now I have zoomed out of the map a little in the next screenshot.  You can see the next Tube station called Whitechapel, which is along Whitechapel Road.  If you follow Commercial Road to the east, it is also a big and busy street.  You can see Shadwell DLR.

Pennington Street - Upcoming London Dock
Right at the south of this screenshot, you can see Pennington Street.  That is where the upcoming London Docks development (by St George's, the luxury arm of Berkeley) is located.

Royal Mint Street
On the southwest of this screenshot, you can see the Tower Gateway DLR as well as Royal Mint Street leading to Cable Street.  Royal Mint Street is where the Royal Mint Gardens by IJM Land development is located. I have blogged about that development in an earlier post.

Future Developments - This is a Hotspot for sure
Look at the land area east of Royal Mint and east of the Goodman Fields development.  Many are low-rise, old buildings etc.  Bear in mind that this area is very near the City of London. Take for example, Royal Mint Street is a mere 0.5Mil walking distance to 20 Fenchurch Street, "Walkie Talkie" building.

Stretch another 0.5Mil to the East of Royal Mint Street and you reach Shadwell DLR station.  Put in another way, Shadwell DLR to 20 Fenchurch Street is about 1.1 mile.

Recall, in an earlier post, I showed that the largest concentration of workers in the City of London is on the Eastern side of the City, nearer to Tower Hill.  The skyscrapers in the City will tend to be concentrated in this area as the planners prefer to cluster them near one another, so as not to block too many views.

Hotspot - Just Go Eastwards along Commercial Road, Cable Street
I think this entire area will be re-developed.  The location is compelling - very close to the City. Total employment in the City is growing at an impressive pace.  Unless the City planners start to allow residential developments in a big way, there would always be a huge shortage of housing for City workers.  Who wouldn't want to live near work and avoid the long commute?

Happy Investing!